American Century Companies Inc. Grows Stock Holdings in Third Coast Bancshares, Inc. (NASDAQ:TCBX)

American Century Companies Inc. raised its stake in shares of Third Coast Bancshares, Inc. (NASDAQ:TCBX) by 17.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,227 shares of the company’s stock after acquiring an additional 5,710 shares during the period. American Century Companies Inc. owned approximately 0.29% of Third Coast Bancshares worth $834,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its stake in Third Coast Bancshares by 1,244.2% in the 2nd quarter. Acadian Asset Management LLC now owns 36,790 shares of the company’s stock valued at $782,000 after buying an additional 34,053 shares during the period. Bank of New York Mellon Corp raised its holdings in Third Coast Bancshares by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 39,984 shares of the company’s stock worth $850,000 after purchasing an additional 1,038 shares in the last quarter. Kennedy Capital Management LLC lifted its position in Third Coast Bancshares by 51.5% in the first quarter. Kennedy Capital Management LLC now owns 329,063 shares of the company’s stock valued at $6,588,000 after purchasing an additional 111,915 shares during the period. Quadrature Capital Ltd boosted its holdings in Third Coast Bancshares by 30.2% in the 1st quarter. Quadrature Capital Ltd now owns 26,730 shares of the company’s stock valued at $535,000 after purchasing an additional 6,200 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Third Coast Bancshares by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 635,569 shares of the company’s stock worth $12,724,000 after buying an additional 4,680 shares in the last quarter. 36.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TCBX. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $28.00 price objective (up previously from $26.00) on shares of Third Coast Bancshares in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Third Coast Bancshares from $22.00 to $26.00 and gave the stock a “hold” rating in a research note on Monday, July 29th.

Third Coast Bancshares Stock Down 3.6 %

Shares of NASDAQ TCBX opened at $25.80 on Wednesday. The stock has a market capitalization of $352.69 million, a P/E ratio of 12.71 and a beta of 0.30. The stock’s 50 day moving average price is $24.49 and its two-hundred day moving average price is $21.83. Third Coast Bancshares, Inc. has a 52-week low of $14.09 and a 52-week high of $28.25.

Third Coast Bancshares (NASDAQ:TCBX) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. The business had revenue of $84.11 million during the quarter, compared to analyst estimates of $41.00 million. Third Coast Bancshares had a return on equity of 8.72% and a net margin of 11.54%. During the same quarter in the previous year, the firm posted $0.53 EPS. On average, analysts anticipate that Third Coast Bancshares, Inc. will post 2.34 EPS for the current year.

Third Coast Bancshares Profile

Third Coast Bancshares, Inc operates as a bank holding company for Third Coast Bank, SSB that provides various commercial banking solutions to small and medium-sized businesses, and professionals. The company's deposit products include checking, savings, individual retirement, and money market accounts, as well as certificates of deposit.